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Lexalytics® Releases New Text Analytics Software for Retailers to Improve Online Shopping Experience

Lexalytics®, a leader in cloud and on-prem text analytics solutions, announced the eCommerce Industry Pack, a specialized version of the company’s text analytics software. The eCommerce Industry Pack is engineered to help online retailers enhance the customer experience, including checkout and payments, shipping and delivery, and the site’s overall shopping performance.

The eCommerce Industry Pack leverages Lexalytics’ deep experience in developing natural language processing (NLP), machine learning (ML) and artificial intelligence technologies to gain insights from large volumes of data. Retailers and social media marketers can quickly analyze feedback from sources such as online comment sessions, customer surveys, product reviews, social media and call logs to uncover correlations that aren’t obvious to humans. For example, if a marketer receives negative customer feedback around the holiday shopping season related to shipping and delivery issues, were the majority of those comments about a particular shipping carrier? Retailers using the eCommerce Industry Pack can quickly examine that information to determine what might be happening with that carrier.

As the eCommerce industry continues to boom and mature, marketers need an easy way to analyze the deluge of data around customer experience to ensure their site is more efficient, easier to use and more interesting than any of the latest crop of ‘exciting’ startups. We can help them ensure that any issues are quickly addressed while they’re still manageable, well before they get to the point that customers and careers are adversely affected,” said Jeff Catlin, CEO of Lexalytics. “The eCommerce Industry Pack is our latest offering to help customers in specific vertical industries get valuable insights, right out of the box.”

The eCommerce Industry Pack contains over 100 eCommerce-specific entities, including the names of major eCommerce sites, payment and shipping services, and loyalty programs. The pack also includes more than 4,800 sentiment phrases drawn from original eCommerce feedback straight from customers. In a test of over 1,000 documents, the Lexalytics eCommerce Industry Pack achieved 87 percent overall agreement with human annotators, far surpassing the gold standard at which humans agree of approximately 80 percent. In addition, Lexalytics offers complex intention analysis for eCommerce, identifying whether someone intends to buy, sell, quit or recommend a product or service. In doing so, Lexalytics empowers the company or sales team with immediately actionable information on the state of important leads – the lifeblood of any company.

 

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